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Petty Cash Claims and Prepare Vouchers Assignment
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Assignment Task
You are required to complete the following in this template file:
1. Identify correct petty cash claims and prepare vouchers for the valid petty cash expenditure.
2. Explain what happens to payments not valid for payment by petty cash Joe is not eligible for reimbursement as the expenses have exceeded over $50 exc GST.
3. Enter the transactions into the Petty Cash Book
4. Total up each column of the Petty Cash book Do total debits = total credits in the Petty Cash If not, you are out of balance, so you need to check your work.
5. On the 30 June reconcile the Petty Cash Book and prepare the reimbursement cheque required, enter the reimbursement cheque into the Petty Cash Book -
6. How much should you have left in the Petty Cash tin? $66.60 Upload a copy of the completed Excel file to Connect with your assessment submission.
Petty Cash
As the Junior Bookkeeper for Gold Catering you are required to maintain the petty cash records in accordance with the policies and procedures attached at Appendix A. You are currently holding petty cash voucher 0250 as the next voucher. The following transactions have occurred in relation to petty cash claims for the month of June:
| 8/6/20xx | Barry claims lunchroom expenses. | $7.20 GST inc is 50c |
| $56.10 | Joe claims for computer printer ink | $27 incl GST |
| 14/06/20xx | Petty cash paid to staff member, Joyce, to reimburse for stationery. | $19.20 inc GST |
| 19/6/20xx | inc GST Petty cash paid to staff member, Mike, to reimburse for postage. | 30/6/20xx Petty cash |
| 30/6/20xx | Reconcile the Petty Cash Book. Chg no. 2154 is to be drawn to record the expenses for the month. | 2154 is to be drawn |
Petty cash paid to staff member, Joyce, to reimburse for stationery. $27 incl GST $19.20 inc GST Petty cash paid to staff member, Mike, to reimburse for postage.
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